The globalization of business, ongoing changes in technology, increased attention of shareholders and stakeholders and the continuing demands of the Audit Committee and senior management require a dynamic framework for managing today's internal audit department.

This session, designed by a past Chief Audit Executive with significant exposure to a multitude of industries and internal audit frameworks, explores the key competencies and responsibilities of today's internal audit management and methods for meeting the requirements of the internal audit profession. We will also discuss some of the greatest challenges of the role and how to address those challenges.

Learning Objectives
  • Explore the role of today's internal audit leadership.
  • Recognize the role of internal audit in corporate governance.
  • Explore how to synergize the internal audit processes with other quality assurance groups.
  • Discover the keys to building effective relationships with management and the audit committee.
  • Discover the keys to staffing and training the audit group.
  • Identify how to develop a resource gap analysis for internal audit.
Last updated/reviewed: March 17, 2024

Included In Certifications

This course is included in the following Certification Programs:

32 CoursesInternal Controls and Internal Audit Certification

  1. Internal Audit Standards Overview
  2. Managing the Internal Audit Function in Line with GIAS - Part 1
  3. Managing the Internal Audit Function in Line with GIAS – Part 2
  4. Managing the Internal Audit Function in Line with GIAS – Part 3
  5. Executing the Internal Audit Engagement in Line with GIAS – Part 1
  6. Executing the Internal Audit Engagement in Line with GIAS – Part 2
  7. Identifying and Implementing the Proper Balance of Internal Controls
  8. Documentation Methods For Internal Control Processes
  9. Segregation of Duties for Core Business Processes
  10. Foundations for a Strong Internal Audit Department
  11. Internal Audit Management - Top Skills
  12. Internal Audit: Keys to Managing an Effective Function
  13. Understanding Risk-Based Auditing
  14. Risk Based Auditing – Establishing a Methodology
  15. Risk Based Auditing – Applying the Methodology
  16. Cyber Risk Frameworks And Concepts
  17. Information Technology (IT) Controls in Emerging Business Environments
  18. Fraud Risk Assessments
  19. Professional Skepticism - Keys to Maintaining
  20. Introduction to Forensic Accounting
  21. The Fraud Triangle
  22. Internal Audit Effective Relations with the Audit Committee
  23. COSO 2013 Overview
  24. COSO 2013 - Operational Execution
  25. Internal Audit Emerging Risks for 2021 and Beyond - Part 1
  26. Internal Audit Emerging Risks for 2021 and Beyond - Part 2
  27. Internal Audit Emerging Risks for 2021 and Beyond - Part 3
  28. Internal Audit Emerging Risks for 2021 and Beyond - Part 4
  29. Internal Audit Challenges During Times of COVID
  30. Global Internal Audit Standards (GIAS) - Overview and Contrast to 2017 International Professional Practices Framework
  31. Tools for Internal Control Certificate
  32. Lessons of an Auditor- Tools for Internal Control Certificate
75 Reviews (318 ratings)

Reviews

5
Member's Profile
The Course provides a birds eye view of the CAE/IA landscape and how a CAE should shape up the function. The Course provides insight on the changing expectations of the stake holders as well as the need for the IA function to play a more dominant role at the Board Level. I was expecting some practical case studies of IA functions from across corporations as part of best practices learning, and to this limited extent the Course was inhibiting.

5
Member's Profile
Lynn, We did it again 100%. As a CFO/Controller of a growing small business ($25M) I regularly make a case to the Board to expand the IA function in the company. The content in this course has supplied me with fresh ideas to hone the strategy in the battle for more respect and resources for our IA function. Best regards and thanks for another thought provoking course. Larry

4
Anonymous Author
Lynn's slides are always very helpful with understanding the material & everything is explained thoroughly. The only downside to this is that, in the beginning, Lynn say this is part three of a series of classes, however 1 & 2 are not specifically noted (neither was this in being the 3rd). It would be nice to definitively see 1, 2, & 3, and how they relate with each other.

5
Anonymous Author
Good overall course and I think the most enjoyable aspects for me were discussing the golden standard while still understanding that these ideals may need to be reached with a little additional work or salesmanship or even understanding that it may just not be possible in a certain organization.

4
Anonymous Author
The course provides a great overview for an effective audit function. The topics covered are helpful even to individuals who do not perform an internal audit function. The speaker is very clear on her lecture and the materials used well summarized the key points.

5
Member's Profile
This course was a refresher. It is very informative and covers all the key components of the Internal Audit function at a very detailed level. I think this course is crucial for people with 1-4 years of experience, but overall everyone needs to take this course.

4
Member's Profile
Good course. It's a smaller part of the larger 7.5 hour course; I think it's helpful these were broken down and available in smaller chunks. Great anecdotes and narration with sufficient but not excessive detail provided.

5
Anonymous Author
The presenter did a great job providing an overview of the Internal Audit Function as well as key examples on how to show management the benefits of IA. I would recommend taking the course if you are new to the IA world.

4
Anonymous Author
This is a fairly comprehensive discussion of the role of internal audit in today's environment. The seasoned instructor has again used her broad professional experience to enhance the presentation.

4
Anonymous Author
I like that the information in this course is very practical. It will be nice if the videos can be broken down into shorter modules like the other courses taught by this instructor.

5
Anonymous Author
This instructor is very good at presenting information in a way that is easy to understand and I also learned new information that I did not know before. This course was well done.

5
Member's Profile
Very well structured and easy to understand. The course materials provided a great overview of the topic and very clear. The pace allowed for a proper understanding of the topic.

5
Anonymous Author
Another awesome course from Lynn. It is very intense but this information you would not be able to find in any book. A lot of real life examples and references. Thank you!

5
Member's Profile
I am not at Managing function, nevertheless, it is interesting just for a member of auditor to understand what are 'keys' to manage an effective internal audit function.

5
Member's Profile
Very knowledgeable on the subject matter. I was surprised by how much I wasn't aware of. I think anyone in external or internal audit would find this content useful.

5
Anonymous Author
This course was a solid overview of effective management of the internal audit function. The focus on synergy with other quality and audit functions was helpful.

4
Anonymous Author
The speaker discusses essential relationships that the Internal Audit must keep and maintain within the organization, to ensure holistic and better audit results.

5
Anonymous Author
I enjoyed the course, I did not like the exam and the use of "not" and double negative questions. Otherwise, the course makes valid points to consider.

5
Anonymous Author
The course provides an overview and comprehensive knowledge of managing internal audit department. The instructor's present is easy to understand

4
Member's Profile
Good webinar - hit on several areas that I think about within my organization and aligned with my goals for enhancement of the IA function.

5
Anonymous Author
keys to managing an effective internal audit function is another great IA related seminar. I appreciate the content and the organization.

5
Member's Profile
Lynn hits another one out of the park, with careful explanations of the role of IA and the CAE, as well as the interaction with the AC.

5
Anonymous Author
This course teaches the importance of managing an effective internal audit team and how to effectively build relationships with the AC.

4
Anonymous Author
Good explanation of the overall responsibilities and interactions of the CAE to effectively manage the audit function.

4
Anonymous Author
Great course internal audit - keys to manage an effective function that should be watched by most of IA professionals.

4
Member's Profile
The content is relevant and was very well presented. It is clear and straightforward. Good material / set of slides,

4
Anonymous Author
This training is more like a refresher course. Nothing surprised me and I think beginners will gain a lot from this

5
Anonymous Author
The course is very informative and detailed regarding on the importance of leadership in Internal Audit Function.

5
Anonymous Author
Well organized. Interjected good examples. All internal audit staff, auditees and CFO should take this course.

5
Anonymous Author
Good job outlining requirements for Internal Audit and providing areas to strengthen current audit teams.

Member's Profile
Full of good questions and challenges for the CAE, especially new ones like myself. Highly recommended.

5
Anonymous Author
I enjoyed this course. A lot of valuable information, all broken down in sections. Organized well.

5
Anonymous Author
Excellent overview for the new auditor, organization management and new audit committee members.

4
Member's Profile
This course gives a very good perspective of the broad requirements of managing an IA department.

5
Anonymous Author
I think the instructor does a great job explaining the information and providing good examples.

5
Anonymous Author
I love the discussion points within this presentation. More discussions like this are needed.

4
Member's Profile
Great information on how to build effective relationships with Management and the AC.

5
Anonymous Author
Provides practical steps for IA management to take in leading/supporting the function.

5
Anonymous Author
This course provides guidence on cooperating between IA and other compliance functions

4
Anonymous Author
This was an interesting training course describing the importance of IA and changes

5
Anonymous Author
This course provided great insight into the audit function and the different roles.

5
Anonymous Author
Lynn presents a thorough presentation on the role of IA in a changing environment.

5
Member's Profile
It is clear that the presenter (Ms. Fountain) has great experiences to share.

4
Anonymous Author
Well organized and presented. Easy to understand despite not working in IA.

5
Member's Profile
Very useful information. engaging and very easy to follow and understand.

5
Member's Profile
Great information! Easy to understand and overall meaningful content....

3
Anonymous Author
This is a great course that offers for new managers of an IA department.

5
Anonymous Author
The instructor was highly knowledgeable and experienced in this arena.

5
Anonymous Author
Course fully met objectives and was. very informative and educational.

5
Anonymous Author
This course helped me strengthen my understanding of IA fundamentals.

4
Member's Profile
The instructor is extremely well-versed in all aspects of this topic

5
Member's Profile
Requires understanding of the internal audit function...good course

5
Member's Profile
Well explained and carefully designed presentation. Well done!!!

4
Member's Profile
Great review and refresher on the Internal Audit Function.

5
Member's Profile
interesting subject, well distributed , good instructor

5
Anonymous Author
This was an excellent course. I learned a lot from this.

5
Member's Profile
Very comprehensive and useful perspective on key issues

5
Anonymous Author
This is my favorite instructor on here. Great course.

5
Member's Profile
Very helpful end to end coverage of topic.

3
Anonymous Author
Interesting primer for a non-IA person.

5
Member's Profile
Very practical and well presented.

5
Member's Profile
Good refresher of basic concepts

4
Anonymous Author
a bit basic, but good review.

4
Anonymous Author
It was a very good course

4
Member's Profile
Great Presentation

5
Member's Profile
Met objectives.

4
Anonymous Author
Good review!!

5
Member's Profile
Great course

4
Anonymous Author
Good course

5
Anonymous Author
Thanks

5
Member's Profile
Great!

4
Member's Profile
great!

4
Member's Profile
Good

3
Anonymous Author
1

Anonymous Author
4

Prerequisites
Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Institute Of Internal Auditors Update12:45
INTRODUCTION AND OVERVIEW
  Introduction to Managing an Effective Internal Audit Function9:36
Roles and Relationships
  Role of Today's IA Leadership46:39
  Building Effective Relationships with MGT and Audit Committee 30:28
Essentials of Staffing and Training
  Keys to Staffing and Training IA18:05
Working Together and Conclusion
  The Synergy of IA with Other Processes and Close10:08
Continuous Play
  Keys to Managing an Effective Internal Audit Function1:54:56
SUPPORTING MATERIALS
  Slides: Institute Of Internal Auditors UpdatePDF
  Slides: Keys to managing an effective Internal Audit FunctionPDF
  Keys to managing an effective Internal Audit Function Glossary/IndexPDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam